BB relaxes loan classification policy due to coronavirus

BSS

19th March, 2020 05:35:14

Bangladesh Bank (BB) has asked the scheduled banks to suspend adverse classification of loans till June 30 to facilitate business activities in view of the coronavirus outbreak.

“Due to coronavirus, the world trade as well as Bangladesh business has faced the negative impact. For the ongoing adverse effects of the corona virus on the overall economy of the country, including imports and exports, many borrowers are not able to repay their loan in time,” said a BB circular issued here today.

Under the relaxations, the banks have been instructed not to adversely classify any loans till June 30 from the states of January 01, 2020.